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- DictionaryCor·po·ra·tion/ˌkôrpəˈrāSHən/
noun
- 1. a company or group of people authorized to act as a single entity (legally a person) and recognized as such in law.
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A corporation is a legal entity that acts as a single person and has various rights and duties. Learn the different types, synonyms, examples, and history of the word corporation from Merriam-Webster dictionary.
- What Is A Corporation?
- Incorporation
- Legal Requirements
- Operating A Corporation
- Liquidating A Corporation
- The Bottom Line
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A corporation is a legal entity that is separate and distinct from its owners. Under the law, corporations possess many of the same rights and responsibilities as individuals. They can enter contracts, loan and borrow money, sue and be sued, hire employees, own assets, and pay taxes. A distinguishing characteristic of a corporation is limited liabi...
A corporation is created when a business is incorporated by a group of shareholders with a common goal. Shareholders share ownership of a business, as represented by their holding of stock shares. Corporations may return a profit to their shareholders. Some corporations, such as charities and fraternal organizations, are nonprofit or not-for-profit...
Each state has its own laws regarding incorporation. Most states require the owners to file articles of incorporation with the state and then issue stock to the company's shareholders.The shareholders elect a board of directors in an annual meeting. Turning a private corporation into a public corporationis complex, as the company must comply with f...
The shareholders of a corporation typically receive one vote per share and may hold an annual meeting during which they elect a board of directors.The board hires and oversees the senior management responsible for the corporation's day-to-day activities. The board of directors also executes the corporation's business plan. Although the members are ...
Incorporation can be ended using the process called liquidation. This may result from a voluntary decision to cease operations or may be forced by the financial collapse of the business. A company appoints a liquidator who sells the corporation's assets. The company pays off its creditors and distributes any remaining money to the shareholders. An ...
A corporation may be formed by an individual or group with a shared goal and can be a for-profit or not-for-profit entity. Corporations possess many of the same legal rights and responsibilities as individuals. The limited liability nature of a corporation means that its shareholders are not personally responsible for the company's debts.
A corporation is a legal entity that is separate and distinct from its owners and has limited liability. Learn the advantages, disadvantages, and requirements of incorporating a business in the U.S.
Learn the meaning of corporation as a noun in different contexts, such as business, government, and law. See how to use the word corporation in sentences and collocations with other words.
Corporation definition: an association of individuals, created by law or under authority of law, having a continuous existence independent of the existences of its members, and powers and liabilities distinct from those of its members.. See examples of CORPORATION used in a sentence.
A corporation is an organization—usually a group of people or a company—authorized by the state to act as a single entity (a legal entity recognized by private and public law as "born out of statute"; a legal person in a legal context) and recognized as such in law for certain purposes.
Jun 10, 2016 · A corporation is a legal business entity that protects its owners from personal liability for the company's actions and financial status. Learn about the advantages and disadvantages of forming a corporation, the types of corporations, and the exceptions to limited liability.
Learn the legal and practical meaning of corporation, a large business or organization that has the rights and duties of an individual and follows a specific purpose. See examples of different types of corporations and their functions.
